Indices closed near low of the day.
S&P 500 @ 1888.53, low 1885.77, high 1897.13
RSI @ 56.23
CMF @ 0.215
Internals were :
Down volume led by 2.04 to 1 in NYSE & 3.44 to 1 in Nasdaq
Declining stocks led by 1.62 to 1 in NYSE & 2.90 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & new lows were leading by 45
VIX UP .33% @ 12.17
Oil @ $102.37
Gold @ $1305.90
AH ER : XONE Down 13.98%, CSCO UP 7.19%, VIPS UP 8.68%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure due to run up in Dow & S&P 500. Nasdaq continued its weakness & high beta remained under selling pressure. Today's close in negative is quite healthy as many skeptics increased their short exposure & weak hand got taken out. I expect next 2 days to be healthy & positive for longs.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
It feels like something really bad is brewing today.
Stocktrader
Hi Stocktrader,
Sometimes markets get very sloppy...today it feels like that.
I will not worry too much until it breaks key technical level.....
Today could be the final flush?
Saleem
Hey Saleem,
It feels kind of like that flash crash day--where traders are reluctant to make any moves making liquidity low and the treasury market going counter to what the data is showing...confusion rules at the moment which could succumb to fear. Lots of day ahead though--maybe it all turns out great instead.
Stocktrader
Hey Saleem,
Sold FDX @ 137.766 and MS @ 29.665 to raise some cash and from cyclical kinds of names.
Stocktrader
Hey Saleem,
Bought some TZA @ 19.068. I need a hedge.
Stocktrader
Hey Saleem,
Sold JKS @ 24.308 and half my AAL @ 37.613. Added to TZA @ 19.018.
Stocktrader
Hey Saleem,
Ok, finished out with a little more TZA @ 18.938. I feel comfortable enough with the portfolio for now. Let's see what happens today and tomorrow.
Stocktrader
Hi Stocktrader,
Good Move with TZA and selling JKS,FDX,MS and part AAL...
Was busy with spring chores.
Saleem
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